Tezos Mainnet finally arrives after a smooth betanet period

The much-awaited Tezos Mainnet was launched on Monday after the betanet period experienced a smooth completion. The Foundation had already said on Friday that the Tezos Mainnet network would be launched on Monday.

On reaching the new status, all balance transactions that were previously on the betanet would automatically be transferred to the mainnet.

The @tezos mainnet launches tomorrow. Betanet period went smoothly. The number of network validators (for an upcoming cycle) has grown to more than 400. Hard not to see this as a remarkable turnaround for a project that looked like a disaster not so long ago.

The betanet version was launched for pure testing purposes to detect issues with the new roll-out. After months of testing, all bugs and vulnerabilities have been addressed, leading to the eventual release of the mainnet status.

Statement on the Tezos network website

The mainnet launch marks the network’s completion of its second and final phase. The company generated profits out of betanet that attracted range of activities on the Tezos network.

According to the website, “The short-term changes may include further recognition of Tezos as the next major player in the blockchain space, and immediate notice by larger exchanges, such as HitBTC, which have been holding off supporting Tezos until the beta period was completed.”

However, CoinMarketCap showed that the coin slid 1.59 percent against the U.S. dollar to trade at $1.57 at the time of writing . This is probably due to the fact that the crypto’s pricehad already accounted for the upcoming launch, with its value more than doubling in the last week alone.